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$505M Fund Wins First Houston Deed

HOUSTON-KTR Capital Partners taps the Keystone Industrial Fund for a key value-add acquisition in a target market: the 192,000-sf, two-building Interwood Business Center. Sources say comparable properties are going for $45 per sf to $55 per sf.

By Amy Wolff Sorter | Updated on April 27, 2006

(To read more on the industrial market, click here.)

HOUSTON-A private equity firm from New York City has used part of its new fund to acquire the two-building, 192,000-sf Interwood Business Center. The transaction represents KTR Capital Partners’ first purchase of industrial product in the Greater Houston market, but definitely not its last.

The two-year-old KTR just closed its first pool, Keystone Industrial Fund LP, raising more than $505 million in equity commitments for a plan to amass $1.4 billion of value-add properties and develop in the US. Houston is one of the KTR fund’s targeted areas for investment.

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